China’s property developers have about $35 billion worth of U.S. dollar-denominated debt that will come due this year, Moody’s Investors Service said. That leaves around $20 billion in refinancing need for China’s developers. The debt crisis at Evergrande, once China’s second-largest property developer by sales, is in part worsened by the debt crisis. It racked up debts of more than $300 billion and is struggling to repay creditors. The property sector has been hit hard by debt worries within the country as debt worries grow within the property sector. The country’s second largest property developer has been in a debt crisis since 2008, with more than 30 per cent of its debts at the end of that period. Evergrand . . .
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